CRDB Bank
Apply for an unsecured personal loan up to TZS 250 million from CRDB Bank, with fast 24-hour approval, long repayment periods, and competitive rates from 17% p.a.
CRDB Bank’s Personal Loan is a flexible financing solution designed especially for government and selected private sector employees in Tanzania. Applicants can borrow anywhere between TZS 100,000 and TZS 250,000,000. Loan approval is quick—within 24 to 48 hours—making this offer ideal for anyone needing funds fast. The annual interest rate starts as low as 17% on a reducing balance basis, with maximum repayment terms extending up to 10 years. Notably, there is no collateral required, and you can top up your loan anytime.
How to Apply for a CRDB Personal Loan
- Ensure you meet the eligibility criteria: government or select private employment, aged 18–60, valid contract or permanent terms.
- Gather your required documents: recent salary slips, identification, employer’s letter, appointment and confirmation letters, and employment contract.
- Apply at any CRDB branch or use the ESS platform (for government employees).
- Await approval within 24–48 hours if all documents are complete.
- After successful processing, the loan is disbursed to your account.
Major Benefits of CRDB Personal Loan
The speed of loan approval and disbursement—often within one day—stands out as a key benefit, letting you act swiftly on opportunities. Long repayment terms (up to 10 years) and flexible top-up options make this loan very accommodating.
No collateral is required, lowering barriers for busy professionals. Additionally, life insurance is included for extra peace of mind, and existing loans from other banks or HESLB can be transferred seamlessly.
Possible Drawbacks to Consider
The minimum interest rate starts at 17% per annum, which, while competitive for unsecured loans, may still feel high for some borrowers.
There are additional fees: a 1.25% facility charge and a 0.75% insurance fee based on the loan amount, which should be considered when calculating total costs.
Final Verdict: Is CRDB’s Personal Loan Right for You?
For employed individuals wanting fast, high-value, unsecured loans and simple requirements, CRDB Bank’s offer is hard to beat. If you meet the eligibility criteria and can manage the rates and fees, it deserves strong consideration.